Trump is considering ending federal income taxes and replacing them with tariffs, resembling the pre-1913 system before income taxes began.

If Trump does this, he will go down in American history as the greatest President since George Washington.

🚨BREAKING: Trump considering ending ALL Federal income taxes and replacing them with tariffs

If he does this, he will go down in American history as the greatest President since George Washington pic.twitter.com/P0OhnhDi6h

— DC_Draino (@DC_Draino) October 24, 2024

Before the federal income tax was established in 1913, the U.S. government primarily relied on tariffs and excise taxes to generate revenue. These taxes, mainly imposed on imported goods and certain domestic products, were insufficient for addressing the nation’s growing financial needs. The introduction of the federal income tax aimed to create a more stable and equitable revenue stream, shifting the burden from consumption-based taxes to income-based taxation, which allowed the government to meet the demands of a rapidly modernizing economy.

Sources:

• History of the U.S. Tax System

• The Evolution of Federal Income Tax

• Tariffs and the American Economy

h/t EvilKoopa